BTPIX vs. SAOAX
Compare and contrast key facts about Salient Tactical Plus Fund (BTPIX) and Guggenheim Alpha Opportunity Fund (SAOAX).
BTPIX is managed by Salient Funds. It was launched on Dec 30, 2012. SAOAX is managed by Guggenheim. It was launched on Jul 6, 2003.
Performance
BTPIX vs. SAOAX - Performance Comparison
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BTPIX vs. SAOAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTPIX Salient Tactical Plus Fund | -1.76% | -2.44% | 3.17% | 4.22% | -1.65% | 6.48% | 7.46% | 7.54% | 2.94% | 0.26% |
SAOAX Guggenheim Alpha Opportunity Fund | 10.14% | -2.00% | 10.49% | 8.81% | -8.66% | 14.38% | 0.17% | -2.26% | -11.25% | 7.48% |
Returns By Period
In the year-to-date period, BTPIX achieves a -1.76% return, which is significantly lower than SAOAX's 10.14% return. Over the past 10 years, BTPIX has outperformed SAOAX with an annualized return of 3.26%, while SAOAX has yielded a comparatively lower 2.89% annualized return.
BTPIX
- 1D
- -0.28%
- 1M
- -4.83%
- YTD
- -1.76%
- 6M
- -0.49%
- 1Y
- -1.03%
- 3Y*
- 1.13%
- 5Y*
- 1.35%
- 10Y*
- 3.26%
SAOAX
- 1D
- -0.44%
- 1M
- 0.00%
- YTD
- 10.14%
- 6M
- 11.36%
- 1Y
- 4.23%
- 3Y*
- 7.96%
- 5Y*
- 4.58%
- 10Y*
- 2.89%
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BTPIX vs. SAOAX - Expense Ratio Comparison
BTPIX has a 1.08% expense ratio, which is lower than SAOAX's 1.76% expense ratio.
Return for Risk
BTPIX vs. SAOAX — Risk / Return Rank
BTPIX
SAOAX
BTPIX vs. SAOAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Salient Tactical Plus Fund (BTPIX) and Guggenheim Alpha Opportunity Fund (SAOAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BTPIX | SAOAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.09 | 0.10 | -0.18 |
Sortino ratioReturn per unit of downside risk | -0.06 | 0.66 | -0.72 |
Omega ratioGain probability vs. loss probability | 0.99 | 1.28 | -0.29 |
Calmar ratioReturn relative to maximum drawdown | -0.23 | 0.15 | -0.37 |
Martin ratioReturn relative to average drawdown | -0.60 | 0.73 | -1.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTPIX | SAOAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.09 | 0.10 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.16 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 0.14 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.30 | +0.13 |
Correlation
The correlation between BTPIX and SAOAX is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
BTPIX vs. SAOAX - Dividend Comparison
BTPIX's dividend yield for the trailing twelve months is around 2.86%, more than SAOAX's 0.65% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
BTPIX Salient Tactical Plus Fund | 2.86% | 2.81% | 3.80% | 4.93% | 7.72% | 0.00% | 6.10% | 6.16% | 3.08% | 0.00% | 4.14% |
SAOAX Guggenheim Alpha Opportunity Fund | 0.65% | 0.71% | 1.06% | 0.62% | 0.72% | 0.82% | 1.22% | 0.92% | 1.17% | 7.07% | 0.03% |
Drawdowns
BTPIX vs. SAOAX - Drawdown Comparison
The maximum BTPIX drawdown since its inception was -13.30%, smaller than the maximum SAOAX drawdown of -52.28%. Use the drawdown chart below to compare losses from any high point for BTPIX and SAOAX.
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Drawdown Indicators
| BTPIX | SAOAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.30% | -52.28% | +38.98% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | -35.08% | +28.24% |
Max Drawdown (5Y)Largest decline over 5 years | -8.90% | -35.90% | +27.00% |
Max Drawdown (10Y)Largest decline over 10 years | -11.04% | -35.90% | +24.86% |
Current DrawdownCurrent decline from peak | -6.75% | -0.47% | -6.28% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -8.77% | +4.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 6.97% | -4.36% |
Volatility
BTPIX vs. SAOAX - Volatility Comparison
The current volatility for Salient Tactical Plus Fund (BTPIX) is 2.33%, while Guggenheim Alpha Opportunity Fund (SAOAX) has a volatility of 2.82%. This indicates that BTPIX experiences smaller price fluctuations and is considered to be less risky than SAOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTPIX | SAOAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.33% | 2.82% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 8.04% | 6.04% | +2.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.79% | 61.36% | -52.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.09% | 28.68% | -22.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.62% | 21.13% | -12.51% |